Algert Global LLC boosted its position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 73.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,300 shares of the energy company's stock after acquiring an additional 25,917 shares during the quarter. Algert Global LLC owned 0.12% of IDACORP worth $6,699,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB raised its holdings in shares of IDACORP by 98.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company's stock valued at $26,000 after purchasing an additional 120 shares during the period. Versant Capital Management Inc raised its stake in IDACORP by 2,150.0% in the fourth quarter. Versant Capital Management Inc now owns 315 shares of the energy company's stock valued at $34,000 after buying an additional 301 shares during the period. Independence Bank of Kentucky lifted its position in shares of IDACORP by 123.6% in the fourth quarter. Independence Bank of Kentucky now owns 407 shares of the energy company's stock valued at $44,000 after buying an additional 225 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of IDACORP in the fourth quarter valued at approximately $45,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of IDACORP during the 3rd quarter worth approximately $53,000. Institutional investors and hedge funds own 89.10% of the company's stock.
IDACORP Stock Performance
NYSE IDA opened at $117.43 on Monday. The firm has a 50-day moving average price of $116.09 and a two-hundred day moving average price of $112.89. IDACORP, Inc. has a 12-month low of $90.64 and a 12-month high of $120.84. The company has a market capitalization of $6.34 billion, a P/E ratio of 21.43, a P/E/G ratio of 2.32 and a beta of 0.56. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93.
IDACORP (NYSE:IDA - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.07. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. The business had revenue of $432.46 million during the quarter, compared to analysts' expectations of $442.24 million. During the same period in the previous year, the company posted $0.95 earnings per share. Analysts anticipate that IDACORP, Inc. will post 5.81 earnings per share for the current year.
IDACORP Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 5th will be given a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Monday, May 5th. IDACORP's payout ratio is currently 62.77%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on IDA shares. Morgan Stanley increased their price target on IDACORP from $126.00 to $131.00 and gave the company an "equal weight" rating in a research note on Thursday, March 20th. Wells Fargo & Company increased their price objective on shares of IDACORP from $121.00 to $125.00 and gave the company an "equal weight" rating in a research report on Friday. StockNews.com downgraded shares of IDACORP from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. UBS Group increased their price target on shares of IDACORP from $117.00 to $122.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Finally, Bank of America boosted their price objective on IDACORP from $119.00 to $127.00 and gave the stock a "buy" rating in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $123.57.
Read Our Latest Stock Report on IDACORP
About IDACORP
(
Free Report)
IDACORP, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. The company operates 17 hydropower generating plants located in southern Idaho and eastern Oregon; three natural gas-fired plants in southern Idaho; and interests in two coal-fired steam electric generating plants located in Wyoming and Nevada.
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